Exxon Mobil reported fourth-quarter adjusted earnings of $1.71 per share, surpassing the consensus estimate of $1.68, driven by record production volumes. Total upstream output reached approximately 5.0 million oil-equivalent barrels per day, including 1.8 million barrels per day in the Permian Basin and 875,000 gross barrels per day in Guyana. While global crude realizations were weaker sequentially, strong refining margins and advantaged asset performance in key regions offset pricing headwinds, enabling Exxon to deliver earnings excluding identified items of $7.3 billion for the quarter.

Operating cash flow for the period was $12.7 billion, with free cash flow totaling $5.6 billion after $8.1 billion in capital expenditures. The company declared a first-quarter dividend of $1.03 per share, payable on March 10 to shareholders of record on February 12. In 2025 Exxon returned $37.2 billion to shareholders, comprising $17.2 billion in dividends and $20.0 billion in share repurchases, and announced plans to repurchase an additional $20.0 billion of shares through the end of 2026.

Since 2019, Exxon Mobil has delivered $15.1 billion in structural cost savings, the highest among major international oil companies, and has raised its target to $20.0 billion by 2030. The company continues to expand scalable growth platforms—with mechanical completion achieved on projects such as the Yellowtail development in Guyana and Train 1 at Golden Pass LNG—all under budget or ahead of schedule. Exxon forecasts $25.0 billion in cumulative earnings growth and $35.0 billion in cash flow growth from 2024 through 2030, supported by disciplined capital allocation and advantaged asset portfolios.